The PHA sets a payment standard ranging from 90% to 110% of the Fair Market Rents (FMRs).

Edwards, IL 61528's Section 8 Fair Market Rent

In the year 2024, as a landlord, if you're looking to rent your property to a Section 8 tenant or another housing voucher program in the 61528 zip code area, you can consider the following rental prices based on HUD income limits.

Efficiency:The efficiency rental rates range from a low of $927 to a high of $1,133, with an average of $1,030.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,026, a maximum of $1,254, and an average of $1,140.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,305, peaking at a maximum of $1,595, and averaging at $1,450.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,701, a maximum of $2,079, and an average of $1,890.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,746 to a maximum of $2,134, with an average of $1,940.

The fair market rent mentioned already includes all utilities. If a landlord chooses not to provide utility coverage, they can subtract the utility costs from the rent to determine the adjusted rental price.

Each housing authority establishes its own rental rates, so you should check the pricing set by that specific housing authority to determine the maximum amount they can offer. It's advisable to adhere to their pricing guidelines.

HUD's Fair Market Rent guides Section 8 rates for your rental unit.

Year City, State, Zipcode HUD Fair Market Rent Bedrooms
Studio 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom
2024 Edwards, IL 61528 Low Rent (90%) $927 $1,026 $1,305 $1,701 $1,746
Average Rent $1,030 $1,140 $1,450 $1,890 $1,940
High Rent(110%) $1,133 $1,254 $1,595 $2,079 $2,134
2023 Edwards, IL 61528 Low Rent (90%) $864 $954 $1,206 $1,566 $1,629
Average Rent $960 $1,060 $1,340 $1,740 $1,810
High Rent (110%) $1,056 $1,166 $1,474 $1,914 $1,991
2022 Edwards, IL 61528 Low Rent (90%) $801 $864 $1,098 $1,422 $1,494
Average Rent $890 $960 $1,220 $1,580 $1,660
High Rent(110%) $979 $1,056 $1,342 $1,738 $1,826
2021 Edwards, IL 61528 Low Rent (90%) $837 $900 $1,143 $1,476 $1,575
Average Rent $930 $1,000 $1,270 $1,640 $1,750
High Rent (110%) $1,023 $1,100 $1,397 $1,804 $1,925
2020 Edwards, IL 61528 Low Rent (90%) $756 $810 $1,035 $1,341 $1,449
Average Rent $840 $900 $1,150 $1,490 $1,610
High Rent(110%) $924 $990 $1,265 $1,639 $1,771
2019 Edwards, IL 61528 Low Rent (90%) $765 $837 $1,062 $1,359 $1,530
Average Rent $850 $930 $1,180 $1,510 $1,700
High Rent (110%) $935 $1,023 $1,298 $1,661 $1,870


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